SUCRAM PHARMACEUTICALS PVT. LTD.,CHENNAI vs. ITO, NCW-6(4), CHENNAI

ITA 1022/CHNY/2025Status: DisposedITAT Chennai22 August 2025AY 2017-18Bench: Shri S.S. Viswanethra Ravi (Judicial Member), Shri Jagadish (Accountant Member)1 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the assessee failed to provide concrete evidence, PAN details of debtors, or any reliable supporting documents to substantiate the cash recovery from debtors and the income from scrap sales. Therefore, the addition made by the Assessing Officer and confirmed by the CIT(A) was sustained.

What were the facts?

The assessee claimed recovery of Rs. 23,57,000 from debtors. The Assessing Officer disallowed this amount as unexplained investment under Section 69 of the Income Tax Act for AY 2017-18, which was confirmed by the CIT(A). The assessee also claimed Rs. 1,15,000 from scrap sales, which was also disallowed and confirmed.

What were the issues?

Whether the disallowance of cash amounts claimed as recovery from debtors and from scrap sales is justified in absence of proper evidence and PAN details.

Which sections of the Income-tax Act were involved?

Section 69,Section 142(1)(ii),Section 133(6)

AI-generated summary — verify with the full judgment below

Before: Shri S.S. Viswanethra Ravi & Shri Jagadish

Hearing: 30.07.2025Pronounced: 22.08.2025

PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER:

This appeal filed by the assessee is directed against the order dated 28.02.2025 passed by the ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi for the assessment year 2017-18. 2. Ground No.1 raised by the assessee is general in nature and requires no adjudication.

3.

Ground No. 2 raised by the assessee relates to confirma

The order continues below.

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